Greenbacker Renewable Energy has acquired the 12 MW Eagle Valley Clean Energy biomass project in Gypsum, Colo.
The wood-fired facility sells its output under the terms of a long-term power purchase agreement with Holy Cross Energy, a not-for-profit rural electric cooperative.
Spokespeople for Greenbacker in Las Vegas and the project's developer, Evergreen Clean Energy, either declined to comment or did not respond to inquiries about the deal by press time.
“While this is our first Biomass Facility to date, it is a well-established facility with a successful operating history,” said Charles Wheeler, ceo of Greenbacker, in a statement.
The woody biomass facility is part of the U.S. Forest Service’s initiative to dispose of pine beetle-infested wood from local forests, which helps lower the risk of wildfires in the area.
The addition of the biomass facility rounds out Greenbacker’s generation capacity, including soon-to-be-constructed projects, to about 366.3 MW, of which 61.5 MW is wind and 292.8 MW solar generation, including residential solar.
The transaction also concludes several legal disputes that had arisen between the plant’s owners and the town of Gypsum over a failed condemnation action, according to local news reports (VailDaily, 2/5).